Common use of CLAIMS AND LAWSUITS Clause in Contracts

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party damage claim or suit arising from operations hereunder if the expenditure does not exceed Fifteen Thousand Dollars ($15,000.00) and if the payment is in complete settlement of such claim or suit. If the amount required for settlement exceeds the above amount, the parties hereto shall assume and take over the further handling of the claim or suit, unless such authority is delegated to Operator. All costs and expenses of handling, settling, or otherwise discharging such claim or suit shall be at the joint expense of the parties participating in the operation from which the claim or suit arises. If a claim is made against any party or if any party is used on account of any matter arising from operations hereunder over which such individual has no control because of the rights given Operator by this Agreement, such party shall immediately notify all other parties, and the claim or suit shall be treated as any other claim or suit involving operations hereunder.

Appears in 4 contracts

Samples: Operating Agreement (Vanguard Natural Resources, LLC), Operating Agreement (Vanguard Natural Resources, LLC), Operating Agreement (Vanguard Natural Resources, LLC)

AutoNDA by SimpleDocs

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party damage claim or suit arising from operations hereunder if the expenditure does not exceed Fifteen Twenty Thousand Dollars (US $15,000.0020,000.00) and if the payment is in complete settlement of such claim or suit. If the amount required for settlement exceeds the above amount, the parties Parties hereto shall assume and take over the further handling of the claim or suit, unless such authority is delegated to Operator. All costs and expenses of handling, settling, settling or otherwise discharging such claim or suit shall be at the joint expense of the parties Parties participating in the operation from which the claim or suit arises. If a claim is made against any party or if any party is used sued on account of any matter arising from operations hereunder over which such individual has no control because of the rights given Operator by this Agreementagreement, such party shall immediately notify all other partiesParties, and the claim or suit shall be treated as any other claim or suit involving operations hereunder.

Appears in 3 contracts

Samples: Operating Agreement Velasquez Field (Saba Petroleum Co), Operating Agreement Cocorna and Nare Associations (Saba Petroleum Co), Operating Agreement (Saba Petroleum Co)

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party damage claim or suit arising from operations hereunder if the expenditure does not exceed Fifteen Twenty Five Thousand Dollars ($15,000.00$ 25,000.00) and if the payment is in complete settlement of such claim or suit. If the amount required for settlement exceeds the above amount, the parties hereto shall assume and take over the further handling of the claim or suit, unless such authority is delegated to Operator. All costs and expenses of handling, handling settling, or otherwise discharging such claim or suit shall be at a the joint expense of the parties participating in the operation from which the claim or suit arises. If a claim is made against any party or if any party is used sued on account of any matter arising from operations hereunder over which such individual has no control because of the rights given Operator by this Agreementagreement, such party shall immediately notify all other parties, and the claim or suit shall be treated as any other claim or suit involving operations hereunder.

Appears in 2 contracts

Samples: Purchase and Sales Agreement, Purchase and Sales Agreement (Imperial Petroleum Inc)

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party damage claim or suit arising from operations hereunder if the expenditure does not exceed Fifteen xxxx Twenty Five Thousand Dollars ($15,000.0025,000.00) and if the payment is in complete settlement of such claim claims or suit. If the amount required for settlement exceeds the above amountamounts, the parties hereto shall assume and take over the further handling of the claim or suit, unless such authority is delegated to Operator. All costs and expenses of handling, settling, or otherwise discharging such claim or suit shall be at the joint expense of the parties participating in the operation from which the claim or suit arises. If a claim is made against any party or if any party is used sued on account of any matter arising from operations hereunder over which such individual has no control because of the rights given Operator by this Agreementagreement, such party shall immediately notify all other parties, and the claim or suit shall be treated as any other claim or suit involving operations hereunder.

Appears in 2 contracts

Samples: Participation Agreement (American Petro-Hunter Inc), Participation Agreement (American Petro-Hunter Inc)

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party damage claim or suit arising from operations hereunder under this Agreement if the expenditure does not exceed Fifteen Two Hundred Fifty Thousand Dollars ($15,000.00250,000) and if the payment is in complete settlement of such the claim or suit. If the amount required for settlement exceeds the above amount, the parties hereto shall assume and take over the further handling of the claim or suit, unless such that authority is delegated to Operator. All costs and expenses of handling, settling, or otherwise discharging such a claim or suit shall be at the joint expense of the parties participating in the operation from which the claim or suit arises. If a claim is made against any party or if any party is used sued on account of any matter arising from operations hereunder under this Agreement over which such the individual has no control because of the rights given Operator by this Agreement, such the party shall immediately notify all other parties, and the claim or suit suite shall be treated as any other claim or suit involving operations hereunderunder this Agreement.

Appears in 2 contracts

Samples: Golden Lane Participation Agreement (New Source Energy Partners L.P.), Golden Lane Participation Agreement (New Source Energy Corp)

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party Party damage claim or suit arising from operations hereunder under this agreement if the expenditure does not exceed Fifteen Two Hundred Fifty Thousand Dollars ($15,000.00250,000) and if the payment is in complete settlement of such the claim or suit. If the amount required for settlement exceeds the above amount, the parties hereto shall assume and take over the further handling of the claim or suit, unless such that authority is delegated to Operator. All costs and expenses of handling, settling, or otherwise discharging such a claim or suit shall be at the joint expense of the parties participating in the operation from which the claim or suit arises. If a claim is made against any party Party or if any party Party is used sued on account of any matter arising from operations hereunder under this agreement over which such the individual has no control because of the rights given Operator by this Agreementagreement, such party the Party shall immediately notify all other parties, and the claim or suit suite shall be treated as any other claim or suit involving operations hereunderunder this agreement.

Appears in 2 contracts

Samples: Joint Operating Agreement, Operating Agreement (New Source Energy Corp)

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party damage claim or suit arising from operations hereunder under this Agreement if the expenditure does not exceed Fifteen Ten Thousand Dollars ($15,000.0010,000.00) and if the payment is in complete settlement of such the claim or suit. If the amount required for settlement exceeds the above amount, the parties hereto Parties shall assume and take over the further handling of the claim or suit, unless such that authority is delegated to Operator. All costs and expenses of handling, settling, or otherwise discharging such a claim or suit shall be at the joint expense of the parties Parties participating in the operation from which the claim or suit arises. If a claim is made against any party Party or if any party Party is used sued on account of any matter arising from operations hereunder under this Agreement over which such the individual has no control because of the rights given Operator by this Agreement, such party the Party shall immediately notify all other partiesParties, and the claim or suit shall be treated as any other claim or suit involving operations hereunderunder this Agreement.

Appears in 2 contracts

Samples: Operating Agreement (American Liberty Petroleum Corp.), Operating Agreement (American Liberty Petroleum Corp.)

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party damage claim or suit arising from operations hereunder if the expenditure does not exceed Fifteen Twenty Five Thousand Dollars ($15,000.0025,000.00) and if the payment is in complete settlement of such claim or suit. If the amount required for settlement exceeds the above amount, the parties hereto Parties shall assume and take over the further handling of the claim or suit, unless such authority is delegated to Operator. All costs and expenses of handling, settling, or otherwise discharging such claim or suit shall be at the a joint expense of the parties Parties participating in the operation from which the claim or suit arises. If a claim is made against any party Party or if any party Party is used sued on account of any matter arising from operations hereunder over which such individual has no control because of the rights given Operator by this Agreementagreement, such party Party shall immediately notify all other partiesParties, and the claim or suit shall be treated as any other claim or suit involving operations hereunder.. OPERATING AGREEMENT (continued)

Appears in 1 contract

Samples: Operating Agreement (Megawest Energy Corp.)

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party damage claim or suit arising from operations hereunder if the expenditure does not exceed Fifteen Five Thousand Dollars ($15,000.00$ 5,000.00) and if the payment is in complete settlement of such claim or suit. If the amount required for settlement exceeds the above amount, the parties hereto shall assume and take over the further handling of the claim or suit, unless such authority is delegated to Operator. All costs and expenses of handling, handling settling, or otherwise discharging such claim or suit shall be at a the joint expense of the parties participating in the operation from which the claim or suit arises. If a claim is made against any party or if any party is used sued on account of any matter arising from operations hereunder over which such individual has no control because of the rights given Operator by this Agreementagreement, such party shall immediately notify all other parties, and the claim or suit shall be treated as any other claim or suit involving operations hereunder.

Appears in 1 contract

Samples: Operating Agreement (Explortex Energy Inc.)

CLAIMS AND LAWSUITS. Operator The Manager of Operations may settle any single uninsured third party damage claim or suit arising from operations hereunder if the expenditure does not exceed Fifteen Thousand TEN THOUSAND Dollars ($15,000.0010,000.00) and if the payment is in complete settlement of such claim or suit. If the amount required for settlement exceeds the above amount, the parties hereto shall assume and take over the further handling of the claim or suit, unless such authority is delegated to Operatorthe Manager of Operations. All costs and expenses of handling, handling settling, or otherwise discharging such claim or suit shall be at the joint expense of the parties participating in the operation from which the claim or suit arises. If a claim is made against any party or if any party is used sued on account of any matter arising from operations hereunder over which such individual has no control because of the rights given Contract Operator by this Agreementagreement, such party shall immediately notify all other parties, and the claim or suit shall be treated as any other claim or suit involving operations hereunder.

Appears in 1 contract

Samples: Joint Development Agreement (Independence Energy Corp.)

AutoNDA by SimpleDocs

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party Party damage claim or suit arising from operations hereunder under this Agreement if the expenditure does not exceed Fifteen Ten Thousand Dollars ($15,000.00) 10,000.00), and if the payment is in complete settlement of such the claim or suit. If the amount required for settlement exceeds the above this amount, the parties hereto Parties shall assume and take over the further handling of the claim or suit, unless such that authority is delegated to Operator. All costs and expenses of handling, settling, or otherwise discharging such a claim or suit shall be at the joint expense of the parties Parties participating in the operation from which the claim or suit arises. If a claim is made against any party Party or if any party Party is used sued on account of any matter arising from operations hereunder under this Agreement over which such the individual has no control because of the rights given Operator by this Agreement, such party the Party shall immediately notify all other partiesParties, and the claim or suit suite shall be treated as any other claim or suit involving operations hereunderunder this Agreement.

Appears in 1 contract

Samples: Operating Agreement (West Texas Resources, Inc.)

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party damage claim or suit arising from operations hereunder if the expenditure does not exceed Fifteen Thirty Thousand Dollars ($15,000.0030,000.00) and if the payment is in complete settlement of such claim or suit. If the amount required for settlement exceeds the above amount, the parties hereto shall assume and take over the further handling of the claim or suit, unless such authority is delegated to Operator. All costs and expenses of handling, settling, or otherwise discharging such claim or suit shall be at the joint expense of the parties participating in the operation from which the claim or suit arises. If a claim is made against any party or if any party is used sued on account of any matter arising from operations hereunder over which such individual has no control because of the rights given Operator by this Agreementagreement, such party shall immediately notify all other parties, and the claim or suit shall be treated as any other claim or suit involving operations hereunder.

Appears in 1 contract

Samples: Farmout Agreement (PetroSouth Energy Corp.)

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party damage claim or suit arising from operations hereunder if the expenditure does not exceed Fifteen Thousand twenty-five thousand Dollars ($15,000.0025,000.00) and if the payment is in complete settlement of such claim or suit. If the amount required for settlement exceeds the above amount, the parties hereto shall assume and take over the further handling of the claim or suit, unless such authority is delegated to Operator. All costs and expenses of handling, settling, or otherwise discharging such claim or suit shall be at the joint expense of the parties participating in the operation from which the claim or suit arises. If a claim is made against any party or if any party is used sued on account of any matter arising from operations hereunder over which such individual has no control because of the rights given Operator by this Agreementagreement, such party shall immediately notify all other parties, and the claim or suit shall be treated as any other claim or suit involving operations hereunder.

Appears in 1 contract

Samples: Operating Agreement (Belden & Blake Corp /Oh/)

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party damage claim or suit arising from operations hereunder if the expenditure does not exceed Fifteen Twenty Thousand Dollars (US $15,000.0020,000.00) and if the payment is in complete settlement of such claim or suit. If the amount required for settlement exceeds the above amount, the parties Parties hereto shall assume and take over the further handling of the claim or suit, unless such authority is delegated to Operator. All costs and expenses of handling, settling, settling or otherwise discharging such claim or suit shall be at the joint expense of the parties Parties participating in the operation from which the claim or suit arises. If a claim is made against any Page 4 5 party or if any party is used sued on account of any matter arising from operations hereunder over which such individual has no control because of the rights given Operator by this Agreementagreement, such party shall immediately notify all other partiesParties, and the claim or suit shall be treated as any other claim or suit involving operations hereunder.

Appears in 1 contract

Samples: Operating Agreement Velasquez Galan Pipeleine (Saba Petroleum Co)

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party damage claim or suit arising from operations hereunder if the expenditure does not exceed Fifteen Thousand ONE HUNDRED THOUSAND Dollars ($15,000.00100,000.00) and if the payment is in complete settlement of such claim or suit. If the amount required for settlement exceeds the above amount, the parties hereto amount Operator shall assume and take over the further handling of not settle the claim or suitwithout first obtaining the consent of all parties, unless such authority is delegated to Operatorwhich consent shall not be unreasonably withheld. All costs and expenses of handling, settling, or otherwise discharging such claim or suit shall be at the joint expense of the parties participating in the operation from which the claim or suit arises. If a claim is made against any party or if any party is used sued on account of any matter arising from operations hereunder over which such individual has no control because of the rights given Operator by this Agreement, such party shall immediately notify all other parties, and the claim or suit shall be treated as any other claim or suit involving operations hereunder.

Appears in 1 contract

Samples: Joint Venture Development Agreement (John D. Oil & Gas Co)

CLAIMS AND LAWSUITS. Operator may settle any single uninsured third party damage claim or suit arising from operations hereunder if the expenditure does not exceed Fifteen Thousand fifteen thousand Dollars ($15,000.00$ 15,000.00 ) and if the payment is in complete settlement of such claim or suit. If the amount required for settlement exceeds the above amount, the parties hereto shall assume and take over the further handling of the claim or suit, unless such authority is delegated to Operator. All costs and expenses of handling, settling, or otherwise discharging such claim or suit shall be at the joint expense of the parties participating in the operation from which the claim or suit arises. If a claim is made against any party or if any party is used sued on account of any matter arising from operations hereunder over which such individual has no control because of the rights given Operator by this Agreementagreement, such party shall immediately notify all other parties, and the claim or suit shall be treated as any other claim or suit involving operations hereunder. All claims or suits involving title to any interest subject to this agreement shall be treated as a claim or a suit against all parties hereto.

Appears in 1 contract

Samples: Asset Purchase Agreement (Saga Energy, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.